0
Eventually the person who did not make the payments and then had their car repossessed. That bill is the least of your worries. You are also responsible for all other cost associated with the repo, plus the difference in what the lender sells the car for and what is actually owed on the loan. NO this is just flat-out wrong. The finance company that holds the ownership of the car hires a local tow company to collect the car. You do not pay for it. The car will be sent to an auction and the bank or finance company will sell it for what they can. YOU are all done with this car. You will probably get an official looking letter after it is auctioned to tell you what the car sold for BUT YOU DO NOT HAVE TO PAY ANOTHER RED CENT towards the difference. Once they repo it, you are all done with the responsibility for it. Phil
What else can I help you with?
Can whoever posted question Who is responsible for the tow truck bill after a car has been repo please check their question for updated correct answer please?
They add that into the balance of whatever is owed on the car. So the answer would be the person who is buying the car, and it gets repo'ed, pays the extra costs of the repo,
If your husband wants to voluntarily repo his truck will you be responsible for any of the debt if you did not co-sign?
NO.
Can a repo man repo your truck behind your gate?
Yes. If he has a repo order, it is no longer YOUR truck.
If you did a voluntary repo on your truck do you still have to pay any money that they will not make reselling it?
Yes, you're responsible for the balance.
Can repo man repo your truck with you in it?
Probably not. He'd probably ask you to get out of the car.
Husband deployed I can't make payments on his truck can his truck be repo?
Yes
How do you go about getting your car that has been repo?
Contact the finance company and pay the bill[S{
How do you repo a car without a tow truck?
drive it away
If you buy a Cobra Slide-In Unit for your truck will you need anything else to repo cars?
Its not as easy as it seems. Is your truck gonna handle the work SAFELY? REPO insurance is sky high.
If a truck and a camper are repossed voluntarily is there a penalty?
The "penalty" is a repo on your CR.,higher interest rates on future loans, and a possible judgement/wage garnishment against you. A repo is a repo is a repo in credit files.
Is it legal to repossess your work truck when you are self-employed?
Yes, if you are not making the payments the bank can repo your truck.
How can you stop a repo?
The #1 best way to stop a repo is to PAY YOUR NOTES or make arrangements with the LENDER. The lenders starts the repo, they stop the repo. Pay your bill.
